Mirae Asset Global Investments proud of Global X's achievements

A message on Nasdaq Market Site congratulating the listing of the Global X Cloud computing ETF in New York's Time Square in April 2019 [MIRAE ASSET GLOBAL INVESTMENTS]

Global X, an exchange traded fund company wholly owned by Mirae Asset Global Investments, has grown by six-fold in terms of assets under management over the past five years, according to Mirae on Tuesday.

Mirae Asset Global Investments announced through a press release Tuesday that the assets under management (AUM) of Global X jumped from 8 trillion won at the time of acquisition to 45 trillion won as of the end of last year. The growth of thematic ETF market and the monthly payback of the dividend caught the eyes of Koreans investing in the U.S. market, contributing to the achievement, the Seoul-based company said.

Mirae Asset acquired Global X for $488 million in February 2018.

The strategy was to expand the global Exchange Traded Fund (ETF) network by targeting the U.S. market, which has more than 70 percent of the entire worldwide ETF market.

Under its slogan “beyond ordinary ETFs,” Global X specializes in thematic ETFs, such as social infrastructure, technology, and more.

The asset management firm plans to expand its global business with the synergy with Global X.

Toward this end, it is seeking ways to enhance the brand value of Global X, such as by changing the names of Australia and Brazil subsidiaries to Global X Australia and to Global X Brazil. Last June, Mirae Asset Global Investments and Global X acquired ETF Securities, an Australian ETF management firm.

It added it plans to expand exchanges between Global X and Mirae Asset's overseas subsidiaries. While diversifying its business, it will strengthen its position as a global financial group by expanding its sales hub to Southeast Asia and the Middle East, Mirae Asset Global Investments said.

"The U.S., which has an excellent capital market, is a unique market that leads the ETF industry and is essential for an ETF management company to grow into a global player," said Kim Bum-seok, executive director of corporate communications at Mirae Asset. "With the synergy with Global X, which is expanding its influence in the U.S. market, we will strive to become a globally representative ETF operator beyond Korea."

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]